The New York Compensation Insurance Rating Board is eliminating eight Workers' Compensation classifications next fall. The classifications will no longer be assigned to employers as of Oct. 1, 2023. This may impact some of the employers you insure.
In a bulletin, the board said that the classifications were "low credibility," and the operations they cover were being combined with other related classifications.
The affected classifications are:
- 2670, Glove Manufacturing (Mfg.) – Leather or Textile, and 2689, Pocketbook Mfg. are being combined with 2688, Leather Goods Mfg. – Not Otherwise Classified (NOC)
- 2913, Rattan, Willow or Twisted Fiber Products Mfg. is being combined with 2883, Furniture Mfg. – NOC – Wood
- 3381, Silverware Mfg., 3384, Precious Stone Setting, and 3385, Clock Mfg. are being combined with 3383, Jewelry Mfg.
- 4298, Sample Card Mfg. is being combined with 4251, Stationery Mfg.
- 4597, Paste, Ink (Writing) or Mucilage Mfg. is being combined with 4557, Ink Mfg. – Printing
All of the classifications other than 4298, Sample Card Mfg. will be subject to a three-year loss cost transition period. Their elimination will become final on Oct. 1, 2025.
If you have any Workers Compensation insurance clients whose operations bear any of these classifications, you may want to inform them that their policies issued after Oct. 1, 2023 will show the new classifications.